IoT for Buildings is going to Surpass $22 Billion by 2026

As per the recent report of a newspaper from Navigant Reseach, IoT enabled smart buildings technology is having a market of around $6.3 bn at present, by the end of 2026 it will surpass $22billion smoothly.

The report also suggests that commercial building owners ‘feeling the pressure to invest in the future of intelligent building technologies that leverage the IoT, providing better insight on operations and equipment as well as access to real-time data for productivity, convenience, and sustainability’.

“Leveraging Internet-connected devices that collect and communicate data and software for data aggregation and analysis, IoT for smart building are secure, scalable, and interoperable,” said Christine Jung, research analyst with Navigant Research in a statement. “They support open communications and standards within the building space, assisting with reduced costs and improved integration possibilities.”

The report focuses to answer a variety of inquiries, from the extent of the market, to how building energy management system are evolving as per IoT , and in addition the drivers and inhibitors for the market.

One organization said in the report, in the ‘rising IoT organizations’ classification, is IoTium. The organization’s item gathers information from brownfield machines, and sends it to greenfield applications which dwell out in the open, private, and cross breed mists.